BC 1989 04 19 - Laserfiche WebLink

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89 maintain wildlife habitats. This number has been designated by the NC Wildlife Resources Commission as 6 cubic feet per second (CFS) or approximately 4 MGD. (k) Net Available Yield: The quantity of water that is available for sale at any time after providing for the Minimum Downstream Release and the Historic Floor Amounts for CONCORD, as identified in Paragraph 6, and for the Kannapolis Water Company, as may be established by CABARRUS by separate agreement therewith, respectively. (1) Normal Pool Level: Pool level with gates in up position and water level at 650~ feet MSL. (m) Raw Water Charge: The rate which CABARRUS charges to its customers for the withdrawal, consumption or receipt of any portion of the available yield of the Reservoir. (n) Restrictive Conditions: Any time at which CABARRUS, due to objective occurrence, may restrict, limit or ration the available yield of the Reservoir to its customers. Such objective restrictive conditions shall include, but shall not be limited to, drought conditions, structural failure of the dam, mechanical failure of the pumping station or appurtenances, contamination of the impounded water, an act of God, other objective restrictive occurrence beyond the control of CABARRUS, or maximum use conditions. (o) Safe Daily Yield: The maximum quantity of water which can be withdrawn from the Reservoir during a critical dry period. The period of record for rainfall available for analysis is the period 1951-1986. The critical dry period used was one month. Based upon the foregoing, the'safe daily yield is computed to be approximately 28 MGD. 4. Project Development and Financing. Upon such terms and under such conditions as hereinafter set forth, CABARRUS shall: (a) pursue and complete the planning, designing, engineering, development and construction of the Reservoir and appurtenant facilities; (b) acquire all land and appurtenances and finance and pay for the Reservoir in its entirety; and (c) own and operate the Reservoir. 5. Transfer of Real Property and Release of Design and Related Documents. For and in consideration of the mutual covenants contained herein and in the Treated Water Agreement executed simultaneously herewith, and the total sum of One Million Three Hundred Twenty-Eight Thousand Dollars ($1,328,000.00) (the "Purchase Price") paid as hereinafter set forth, on or before May 1, 1989 (the "Closing Date"), CONCORD shall transfer and release to CABARRUS the Concord Real Property (in fee simple by General Warranty Deed) and the Concord Plans and Documents. Additionally, CONCORD hereby designates CABARRUS as its agent and successor for all purposes in continuing and concluding those condemnation proceedings which it has previously commenced by forwarding Notice of Action to those certain landowners identified in Exhibit C whose real property is necessary for the project. CABARRUS shall pay the Purchase Price to CONCORD as follows: (a) The sum of Twenty-Eight Thousand Dollars ($28,000.00) on the Closing Date; (b) The sum of Three Hundred Twenty-Five Thousand Dollars ($325,000.00) payable on or before July 1, 1989; (c) The sum of Three Hundred Twenty-Five Thousand Dollars ($325,000.00) payable on or before July 1, 1990; (d) The sum of Three Hundred Twenty-Five Thousand Dollars ($325,000.00) payable on or before July 1, 1991; and (e) The sum of Three Hundred Twenty-Five Thousand Dollars ($325,000.00) payable on or before July 1, 1992. 6. Acknowledgment of and Compensation for Historic Floor Amount for CONCORD and Designation as Customer of the Reservoir. As consideration to CONCORD for its historic usage of raw water from Coddle Creek, as withdrawn through the Existing Pump Station or otherwise, upon the Completion Date,